Lakewood Township Approves Millions In Tax Breaks For Cedarbridge Project

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Lakewood leaders are poised to approve millions of dollars in tax breaks for the next wave of construction at the township’s Cedarbridge campus, with one official floating the idea to give municipal revenue from the projects to the struggling school district.

Developers building a daycare complex, strip mall and upscale office buildings on the campus near FirstEnergy Park are seeking 30-year tax abatements in exchange for making payments in lieu of taxes — called PILOTs — under a state program designed to redevelop blighted areas.

Lakewood Mayor Ray Coles wants those payments, which could grow to more $500,000 annually, to be passed along to the Lakewood Public School District.

Read more at APP.

{Matzav.com}

4 COMMENTS

  1. How about to give free bussing to taxpaying private school senders??

    this is beyond corruption!

    Next time, take the vaad list & vote the opposite!

  2. The Lakewood Township leadership is entirely reliant on the endorsement of the Lakewood Vaad. The Lakewood Vaad is directed by the owner of the Cedarbridge project. Make your own conclusions.

  3. Why not give tax breaks to the main street folk struggling to pay sky high property tax and not to the wealthy building office complexes that will make them millions.

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